Industrial growth

Question 1

Name five impacts of industrialisation

Answer 1

1) Growth of banking
2) Growth of cities
3) North-south divide
4) Emergence of the middle class
5) Government shift towards economic structure and involvement.

Question 2

What is the main purpose of banking?

Answer 2

To provide safety and security to the users of a bank and to allow transactions to take place easily

Question 3

When was the bank of England established

Answer 3

1694

Question 4

How many banks were there in 1784 and then how many were there in 1808?

Answer 4

1784-119

1808-808

Question 5

When and where were the first goldsmiths and what did they do?

Answer 5

The goldsmiths allowed people to trade in their gold for a paper ‘bill’ that was the first paper currency.

Question 6

How did the counties’ system work?

Answer 6

The counties had their own system whereby transactions could be done between customers rather than by making withdrawals. Deposits allowed. This was usually overseen by businessmen who had financial experience

Question 7

When were county banks first allowed to use bank notes? What effect did this have?

Answer 7

1791.

Gave employers an effective way of issuing wages.

Question 8

Which cap prevented the growth of joint-stock banks? When was it removed? What effect did this have?

Answer 8

Clause in Bank of England Charter (1708) Prevented banks that had more than 6 accounts from issuing notes. Kept banking local and prevented the growth of joint-stock banks.

Question 9

What effect did the removal of the cap on banks have?

Answer 9

• Aided industrialisation with larger institutions.
• Helped business grow
• Showed a government initiative to forward thinking.

Question 10

Which bank opened in October 1826?

Answer 10

Lancashire banking company, joint-stock bank (first)

Question 11

What did parliament allow banks to do in 1833?

Answer 11

Joint stock banks could now use checks.

Question 12

How many joint stock branches and branches were there nationwide in England in 1866?

Answer 12

154 banks, 850 branches.

Question 13

What was the main significance of banking?

Answer 13

-Allowed entrepreneurs a source of capital to establish themselves– Technological innovation
- More productivity in manufacturing.
- E.g. Cotton industry 1761 imported 3 million pounds of cotton
1833 300 million
Employing 833,000 people

Question 14

Give two examples of this innovation

Answer 14

Arkwright’s water frame 1769
Spinning Jenny
These machines allowed for more industry but usually required a bank loan to buy

Question 15

How was the ‘upper class’ effected by this?

Answer 15

It allowed the agricultural aristocracy to be united with industry
e.g. marquess of Bute established docks in Cardiff bay
The landed gentry could invest in mills etc. and benefit from it.
Landed gentry= politicians.

Question 16

How did industrial rev change class

Answer 16

It altered the stratification of class and allowed the ‘self made man’ to become a phenomenon.

Question 17

What are the stats behind middle class growth?

Answer 17

1816-1831:
 middle class increased by 75% - from 160,000 to 214,000

Question 18

Who’s principles were being applied here?

Answer 18

Adam smith, free trade.

Question 19

Give an example of someone benefiting from mechanisation.

Answer 19

Arkwright, he bought a mill in Derbyshire, made enough to buy out competitors.
- Died in 1792 with 500,000 to his name.

Question 20

Name one of mechanisation not going in their favour.

Answer 20

Trevithick (thicc) died penniless having invented the steam engine on wheels.

Question 21

Why did manufacturing move north?

Answer 21

There were better transport links to the Liverpool docks via the Manchester-Liverpool railway built in 1830.
- Vital for importation of cotton from the USA

Question 22

Why was industry previously located near rivers?

Answer 22

First wave of mechanisation relied on rivers.

Question 23

What was the second wave of mechanisation

Answer 23

COAL POWER BABY. Less bring it all the way back to 1769 ;)

Question 24

What happened to the South meanwhile?

Answer 24

There maintained a certain amount of wool trade in the south.

Question 25

Did the South have a machine? :((

Answer 25

Yes, it was 1789 Meikle’s threshing machine.

Question 26

What was the difference between Southern mechanisation and northern mechanisation.

Answer 26

Northern mechanisation required more labour and southern required labour.

Question 27

When was it that only London and Edi had popns of over than 50,000?

Answer 27

1750.

Question 28

Where did the land lie on urban population in 1851?

Answer 28

29 cities had a popn of more than 50,000. London 2.3 million. 9 More than 100,000

Question 29

What was effect no.1 of the urban growth?

Answer 29

1) Improved infrastructure. Railway lines. Canals, Popn more mobile.

Question 30

What was effect no.2 of urban growth?

Answer 30

Employers would often provide housing that was poor quality, back to back, terraced and close to the factory.

Question 31

What was the popn of Manc in 1772 and then 1831? What is this example of?

Answer 31

25,000 in 1772, and 182,000 by 1831. ‘cottonopolis’. Manufacturers creating housing and communities.

Question 32

What was parliament’s approach to industrialisation?

Answer 32

A minimalist approach, interve

Question 33

What was parliament’s approach to industrialisation? Give two example

Answer 33

A minimalist approach, intervening when necessary. 1799 and 1800 passage acts. Removal of obstacles to profiteering.
Master and servant act 1823.

Question 34

Pre 1835 water sitch

Answer 34

Majority of works in public hands- oligarchies.

1835- Municipal corporations act. Councils assume control of water.

Question 35

Give an example of gov. involvement in rail

Answer 35

Stockton to Darton Line- Needed to be incorporated so that it could act legally

Question 36

What example of gov. stealing railway power

Answer 36

1844 railway regulation act gave power to gov over rail.

Question 37

What was the Gov’s stance on social and econ issues? Give examples.

Answer 37

Did not take a great interest in this. Repeal of laws that proported gov intervention, e.g. 1813 Repeal of the Statute of Artificers (1563 provided regulation of wages and working conditions)
1846 Repeal of the Corn Laws
Adoption of laissez faire attitude.

Question 38

What effect did the gov’s stance have?

Answer 38

Promoted industrialisation. Unhampered industrial growth
Responding to changing circumstances
○ Dynamic economic climate had no need for fixed wages in the minds of employers
and government
○ Saw this type of legislation as a hinderance to industrilisation and therefore removed
them